*The Critical Illness benefit is an accelerated benefit and the death benefit will be reduced by the Critical Illness cover paid to the policyholder. To know more about the illnesses covered, please refer the sales brochure.
**Available only under Life Plus and All in One option. Maximum amount that can be availed is 2 Crore and will be paid as a lump sum.

*The Critical Illness benefit is an accelerated benefit and the death benefit will be reduced by the Critical Illness cover paid to the policyholder. To know more about the illnesses covered, please refer the sales brochure

SIP is a financial planning tool available for policy holder’s to create wealth and achieve their long term financial goals by contributing a fixed amount in a selected fund(s) at regular intervals, which could be either monthly, quarterly or yearly. The key benefits of SIP to policy holders are rupee cost averaging and also it inculcates disciplined approach towards financial savings rather than ad hoc investment decisions.

Traditional Savings/Money Back Plans

What are Traditional Savings/Money Back Plans?

Traditional Savings/Money Back plans are life insurance plans that combine the benefits of a life insurance product and a savings tool. With these plans, in addition to securing yourself and your family, you also create wealth over time to meet your financial goals such as saving for your retirement, buying a new home or securing your child’s higher education
, and more.

Most of these plans usually offer you a fixed amount as Maturity Benefit when the policy ends. But some plans also help you create a regular stream of income throughout your policy duration. This helps to strike a balance between good returns and low risk. So regardless of the life stage you are at, and your financial goals, investing in a Traditional Savings/Money Back plan is always the right step forward.

4 Reasons to buy a Traditional Savings/Money Back Plan

Good potential returns: By choosing a Traditional Savings/Money Back plan, you can do away with the worry of getting low or no returns on your investments. With these plans, the insurance company adds to your savings with certain benefits, which offers your money the potential to grow further. Such benefits are called bonuses and are available in different forms depending on the product you choose (such as, Guaranteed Additions, Guaranteed Maturity Benefit, Reversionary Bonus, Terminal Bonus, etc.) *.

Systematic savings to fulfill your goals: Traditional Savings/Money Back plans inculcate the habit of regular and disciplined savings, which is the key to successful long-term financial planning. Thus, by paying premiums regularly, you can enjoy financial security for your child’s marriage, higher education or any other event.

Protection to your family: These plans ensure that the dreams and goals of your family stay secure by providing you a Life Cover of your choice. This Life Cover amount will ensure the same lifestyle for your loved ones that you have worked so hard for, even in your absence.

Tax benefits: You can get tax benefits up to 1.5 lakh on your insurance premiums, under Section 80C. Traditional Savings/Money Back plans also let you enjoy tax benefits on the maturity benefit you receive, under Section 10(10D). Thus, you get growth on your investment and save on taxes each year at the same time.

Tax benefits under the policy are subject to conditions under Section 80C, 10(10D) and other provisions of the Income Tax Act, 1961. Applicable taxes will be charged extra as per prevailing rates. Tax laws are subject to amendments from time to time.